In general, there is a rare connection between high-class billionaires and penny stocks, however, in Canada, an exception has been made by one fabulous investor.
The man who was called by Forbes as the most celebrated tycoon of Asia ‘Li Ka-Shing’ has done investment in the junior technology stock knowns as the WELL Health Technologies in Canada for the third consecutive time within a time span of a few months.
An amount of $500,000 was invested by the business tycoon on the 13th of June in an upsized purchased deal financing which was eventually utilized in part to fund the acquisition of KAI Innovations of Ontario.
Purchase of the Ka-shing is a part of a series of recent insider purchases on the stock, which are inclusive of the multiple purchases from the Chief Executive Officer, as well as, the founder ‘Hamed Shahbazi’ who is the largest shareholder of the company. The finch company of Shahbazi ‘TIO Networks’ was sold out to PayPal two years ago for an approximate worth of $302M.
Shahbazi passed the following statement regarding the previous investment from the business tycoon, who through his Prospects Ventures has made a noteworthy investment into the tech giants of America i.e. Spotify and Facebook: “We are delighted to have Mister Li’s, as well as, Horizon Ventures’ support. Strong efforts are being put by our management team to give provision of strong return to the shareholders by pursuing a suitable strategy which would not only allow us to accumulate profits in the industry of healthcare but would also allow us to enhance the modernization and interoperability. We are entirely committed to employing improved digitalization in healthcare for enhancing health outcomes.”
Ka-Shing has now the possession of over 10-million shares of WELL personally, in addition to another position through Horizons Ventures.